Crypto Circle Academician: 8.1 Ethereum Pullback Risk, Bears Are Restless! Latest Market Analysis and Trading Suggestions Attached with Hedging Ideas
Ethereum current price 3770, the strategy for early Ethereum layout can be referenced in articles from the past few days. After breaking the previous low of 3900 last night, profits were taken after dropping to 3700. The specific operational details have been updated for everyone's reference. The method of trading by exchanging time for space is only effective when following the trend; otherwise, it's hard to hold onto a large swing if the entry point is not well chosen. As for the upward move, I choose to enter and exit quickly, so after breaking 3800 on the upward move from 3700, I chose to take profits. My focus remains on shorting at high positions.
Before the release of the daily K-line, the highest was 3878, and the lowest was 3746. Since it did not break 3900, I chose not to move south for now and will continue to wait. The EMA15 fast line support has reached 3635, which can be monitored. The MACD top divergence has been continuously decreasing in volume and increasing in positions. Although the DIF and DEA have formed a death cross and there is a need for a pullback, the trend remains bullish. In this kind of market, the main force has a high probability of sharp rises and falls to offload goods. The Bollinger Bands should focus on the upper track hovering at 4150, while the middle track has reached 3550.
The four-hour K-line divergence has exceeded ten days, and the K-line has been stuck at high levels of the trend indicator. The EMA60 trend support is at 3720. The MACD has been continuously decreasing in volume and increasing in positions, while the DIF and DEA have spread downwards near the 0 axis. The Bollinger Bands are hovering and pointing downwards, with the upper track compressed to 3870 and the lower track focusing on 3735. After probing the lower track of the Bollinger Bands, aggressive traders can look to move northward briefly, paying attention to the selling pressure above 3830 for profit-taking, with a profit margin of 50 to 100 points. Conservative traders should focus on the 3520 golden ratio support.
Short-term Reference: Safety First. Remember that market conditions are not 100% certain, so always set stop-losses. Safety first! The goal is to minimize losses and maximize gains.
Southward trial entry point 3870 to 3900, defense at 3940, stop-loss at 50 points, target at 3830 to 3780, if broken, look at 3750 to 3720.
Northward trial entry point 3730 to 3700, defense at 3680, stop-loss at 30 points, target at 3750 to 3790, if broken, look at 3820 to 3850.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication; suggestions are for reference only, risk is self-assumed. $ETH